David Simon

Chairman, CEO, and President at SIMON PROPERTY GROUP INC /DE/

Board

Since 2007

Age

63 years

Education

Earned a Bachelor of Science degree from Indiana University and a Master of Business Administration degree from Columbia Business School.

Tenure

Has been with SPG or its predecessor since 1993, became CEO in 1995, assumed the role of Chairman in 2007, and took on the role of President in February 2019.

Also at SIMON PROPERTY GROUP INC /DE/

RSS

Richard S. Sokolov

Vice Chairman

AJR

Adam J. Reuille

Senior Vice President and Chief Accounting Officer

BJM

Brian J. McDade

Executive Vice President and CFO

About

David Simon has built a remarkable career in the real estate industry, starting his journey with SPG or its predecessor in 1993. His early involvement laid the groundwork for a leadership role that would transform the company, establishing a reputation for strong business acumen and strategic growth.

Educated at Indiana University and Columbia Business School, he developed a robust foundation in business and finance that has guided his approach to mergers and acquisitions and overall corporate strategy. This academic background has been a significant asset throughout his ascent in the business world.

Professionally, he advanced quickly—becoming CEO in 1995 and later taking on the roles of Chairman in 2007 and President in February 2019—solidifying his status as a key leader at SPG. Over the years, his vision has driven major strategic initiatives and operational excellence, making a lasting impact on the company and its global standing in the real estate market.

$SPG Performance Under David Simon

Past Roles

Organization	Role	Date Range	Details
Simon Property Group (or predecessor)	CEO	1995 - N/A	Held before assuming current role
Simon Property Group (or predecessor)	President	1993 - 1996	N/A
Simon Property Group (or predecessor)	Director	Since 1993	N/A
Two Wall Street Firms	Investment Banker	1985 - 1990	Specialized in mergers and acquisitions and leveraged buyouts

External Roles

Organization	Role	Date Range
Klépierre, S.A.	Director	N/A [N/A]
Apollo Global Management, Inc.	Director	N/A [N/A]

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Annual Base Salary	$1,250,000	Annual	Remained unchanged since 2011
Employee Life Insurance Premiums	$2,105	Annual	As reported for 2023
401(k) Contribution	$16,500	Annual	As reported for 2023

Performance Compensation

Data from FY 2023

Annual Cash Incentive Compensation (ACI Program)

Metric (Unit)	Value	Details
Threshold (diluted FFO per share, adjusted)	$11.55	To fund a $6.2M ACI pool
Target (diluted FFO per share, adjusted)	$11.75	To fund a $9.0M ACI pool
Maximum (diluted FFO per share, adjusted)	$11.95	To fund a $13.5M ACI pool
Actual Result (diluted FFO per share, adjusted)	$11.76	Resulted in a $9.2M ACI pool
Payment/Vesting Schedule	First calendar quarter of following year	Based on annual financial performance and individual contributions

Long-Term Incentive Program (LTI Program)

Metric / Detail	Value	Details
Performance Metrics	Based on FFO and Objective Criteria Goals	Subject to adjustment via a TSR modifier
LTIP Units - Threshold	40,505 units	Minimum performance level required
LTIP Units - Target	68,637 units	Target performance level
LTIP Units - Maximum	124,901 units	Maximum performance cap
Vesting Schedule (LTIP Units)	Vest on January 1, 2027	Earned if performance conditions are met during a three-year period
Grant Date	March 1, 2023	Applicable to both LTIP and RSUs
RSUs Granted	20,619 RSUs	Vest on March 1, 2026
Grant Date Fair Value (RSUs)	$2,500,054	Calculated per FASB ASC Topic 718
Grant Date Fair Value (LTIP Units)	$7,500,205	Based on probable outcomes
Maximum Grant Date Fair Value (LTIP Units)	$16,000,251	Upper limit of valuation
Monte Carlo Simulation Parameters	Volatility: 35.68%, Dividend Yield: 5.34%, Risk-Free Rate: 4.6%	Used for LTIP valuation

Corporate ICP

Not Applicable: David Simon did not participate in the Corporate ICP program in 2023.